Motorola to slash 4k jobs, Barclays to cut 2k

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Motorola to slash 4k jobs, Barclays to cut 2k
London/Los Angeles, Jan 15: Layoffs by Multinational companies have become a daily talk. Mobile handset maker Motorola Inc. also said on Wednesday, Jan14 that it will cut 4,000 more jobs in 2009. In October 2009, it had said that it would layoff 3,000 jobs.

Even Barclays PLC said that it plans to cut up to 2,100 jobs in its retail and commercial banking unit. Barclays has already begun its discussion over the layoffs with the union leaders. It will take all possible measures to reduce compulsory redundancies.

"Barclays continually reviews its operations and resources so that they function efficiently as business needs and customer requirements evolve," the bank said in a statement. "In the current market conditions, this is particularly important."

Barclays, Britain's fourth largest bank, employed some 135,000 worldwide at the beginning of 2008. Motorola as part of its cost cutting measures would freeze its pension plans and reduce executive pay.

OneIndia News (With inputs from Agencies)

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